A healthy share of capital outlay for roads sector in Budget 2017 bodes well for construction companies, according to Nagarjuna Construction Company‘s (NCC) management.
In an interview to CNBC-TV18, YD Murthy, Executive VP-Finance of NCC spoke about the results and his outlook for the company.
NCC is hoping to garner fresh orders worth Rs 1000 crore in FY17, with an eye on increasing the road projects, says the company's Executive VP - Finance YD Murthy.
Hyderabad-based infrastructure firm NCC plans to reduce its debt to Rs 100 crore in FY17, Executive VP, Finance, YD Murthy tells CNBC-TV18.
According to YD Murthy, executive vice-president - finance, NCC, the main problem with stalled projects are issues related to land acquisition and lack of clearances
NCC recently sold its stake which stood at 38 percent in the Bangalore Elevated Tollway project to IDFC Alternatives-managed fund. The company sold its stake, valued at Rs 160 crore, at a loss of Rs 60 crore.
Speaking to CNBC-TV18, YD Murthy, Executive Vice President-Finance, NCC Limited says that he is confident of getting substantial orders for the smart city project and is looking forward to the new capital city of Amravati.
The Hyderabad-based infrastructure firm is aimed to bring down its debt to Rs 1,800 crore by the end of this financial year, said YD Murthy, executive vice president-finance, NCC.
Infrastructure firm NCC on Thursday reported a huge jump in its consolidated net profit at Rs 51.98 crore for the quarter ended March 31, 2015.
The company is hopeful of clocking more than Rs 8000 crore worth of orders for FY15 and around 8,000-10,000 cr for FY16, says YD Murthy, Executive VP-Finance, NCC.
YD Murthy, executive VP-finance, NCC spoke about the company's performance in the third quarter of this fiscal year.
Analysts believe NCC is best placed to capitalise the huge infrastructure investment opportunity.
Encouraged by its recent margin improvement, YD Murthy of NCC looks to expand margins soon.
YD Murthy, executive vice president of finance at NCC says the rights issue will most likely open on September 29, and close on October 17.
YD Murthy, executive vice president -Finance says high interest costs and rising debt levels led to a fall in Q3 earnings.
According to YD Murthy, Executive VP-Finance, NCC the company will be able to pare down the debt to the tune of Rs 200-250 crore by monetising some build operate transfer (BOT) and real estate assets.
The Hyderabad-based firm with diversified interest in power, building and electrical divisions is hopeful of exiting FY13 with profit as ordering scenario has improved of late. The firm is yet to announce Q4 and FY13 numbers.
YD Murthy, executive VP-finance, NCC says in an interview to CNBC-TV18 that the apex court ruling will quicken the implementation of 25 road projects worth Rs 25,000 crore that were stalled awaiting the grant of the clearance from the ministry of environment.
YD Murthy, Exec VP-Finance,NCC said, â€œWe have bagged substantial orders in the current quarter and the order book at the end of the quarter is Rs 18,799 crore.â€
YD Murthy, executive VP - finance, Nagarjuna Construction Co explains to CNBC-TV18 that the company plans to post a top-line growth of 15% amidst improvement in debt-collection and participating in bids for PPAs from Andhra Pradesh, Tamil Nadu and Karnataka.
YD Murthy, VP-finance of NCC says, the order book of the company at the end of the year is about Rs 20,195 crore. â€œIn the current year, we are looking at fresh orders accretion of about Rs 8,500 crore. We believe we are comfortably placed order book wise,â€ he adds.
NCC has bagged order worth Rs 630 crore, reports CNBC-TV18. It touched an intraday high of Rs 58.85 and an intraday low of Rs 56.50. At 10:53 hrs the share was quoting at Rs 58.50, up Rs 1.20, or 2.09%.
Nagarjuna Construction (NCC) is targeting a topline growth of Rs 7,200 crore (consolidated) in FY12.
We are confident that we will see some uptick in the order inflow in FY12, says YD Murthy, Exec VP-Finance, Nagarjuna Constructions.
YD Murthy, Exec VP-Finance, Nagarjuna Construction in an interview with CNBC-TV18 spoke about the performance of the company and the road ahead.